Both IAS 1 ‘Presentation of Financial Statements’ and IAS 10 ‘Events after the Reporting Period’ suggest that a departure from the going concern basis is required when specified circumstances exist. Neither Standard however provides any details of an alternative basis of preparation and how it may differ from the going concern basis.
Graham Stirling, audit manager at Grant Thornton in Singapore, talks about how attracting and developing the right people has been key to the rapid growth of the firm
The world is changing. The financial crisis emphasised the extent to which financial systems are connected globally. This interconnectedness not only brings greater prosperity, but also greater concentrations of systemic risk.
The Grant Thornton International Ltd. IFRS team has published a comment letter in response to the IASB's Request for Views – 2015 Agenda Consultation.
This publication provides a high-level summary of recent changes to IFRS that will affect companies' future financial reporting.
For tech companies, the regulatory environment is tougher now than ever before. To protect national interests, governments are using compliance to restrict companies that could potentially disrupt established industries which can creating a knock on effect for tech companies. Rapidly expanding companies also face a wider range of individual regulations as they expand into new territories, be it employment law, taxation, product safety or licensing.